Information technology has advanced dramatically within the last 25 years or so. At the same time there have been significant shifts in companies and the business world. Some examples of these changes are: globalization or global business; the speed at which business, people, and societies move; pressure to deliver better quality and customer service. Did the technology push the changes in the world, or was it the other way around? What evidence is opinion based upon or how did you draw your conclusions?
Answer:
Did the technology push the changes in the world, or was it the other way around? What evidence is opinion based upon or how did you draw your conclusions?
In my opinion the world started to change during the 1970s when Steve Jobs introduced the personal computer. Before him, only huge corporations could afford computers since they were huge and costed millions. Since then, information technology (IT) has increased in gigantic steps and when the internet was available for public use, the world as we know it changed.
When the world was struggling again during the great recession, my hero came back and changed the way IT industry again with the iPhone and the whole app culture. I am a little over 25, and I can tell that everything was very different when I was a small kid. You actually needed to read a newspaper and use encyclopedias (very large books).
Now everything is on the web and now most of us are even working using the internet. In just seconds we know what is happening in China or any other country in the world, while before all we heard about China was that were many Chinese and they were communists. IT has enabled whole new industries that boost the economy much more than any other manufacturing business ever had. The world would be a much different place if it wasn't for the Apple I, the internet or the iPhone.
Advances in technology and the shift towards globalization have acted synergistically to shape each other and the world. Improved communication technologies and developments like Moore's Law have revolutionized business operations, increasing competitiveness and efficiency. Both aspects have driven mutual influence, indicating that technology both pushes and responds to global business changes.
The question of whether advances in technology have driven changes in the world or vice versa is quite complex, as these forces seem to act in a synergistic manner. On one hand, globalization and technology developments have certainly been interconnected, with each driving the other forward. Improved communication technologies, such as the internet, have made it easier for consumers to order products from anywhere in the world, thereby increasing competition among businesses and making markets more global.
Moreover, the advent and rapid evolution of personal computing power, the Internet, and nanotechnology, backed by Moore's Law, have revolutionized how work is conducted and created vast new opportunities. These technological advancements have essentially changed expectations and operational models within businesses, pushing them toward global engagement and faster, more efficient processes.
In one of the case studies in the textbook, Marcus Lane, a geologist for an environmental management and engineering services firm, traveled all over North and South America as part of his job, resulting in numerous expense reimbursements. Unfortunately, Lane went too far and began to double book his air travel using his personal credit card. He booked two separate flights to the same location, but with a huge cost difference. He used the cheaper ticket for the actual flight and returned the more expensive ticket for credit. And, of course, he submitted the more expensive ticket for reimbursement. How was his scheme detected
Answer: The internal auditor discovered it when performing a routine audit of expense reimbursements
Explanation:
Marcus Lane, was a geologist who travelled all over North America and South America and this results in several expense reimbursements. Lane engaged in fraudulent activity by double booking his air travel.
He used cheaper ticket for the actual flight and more expensive ticket was returned for credit. But, he submitted the expensive ticket for reimbursement.
The fraud was discovered by the internal auditor while doing a routine audit of expense reimbursements. He was terminated and he agreed to pay the money back.
Heinz revolutionized the industry when it introduced its inverted bottle because consumers had complained for years about how hard it was to get out that last bit of ketchup. The company spent three years designing the convenient container, which is equipped with a vacuum cap that stops dry ketchup from forming around the lid. Which of the following packaging objectives does this exemplify? Multiple Choice promote usage aesthetic communication harmony protection
Answer:
A. Promote Usage
Explanation:
Packaging involves the process of designing, evaluating and producing a container to be used in protecting and handling a product. Packaging involves majorly designing and then producing the designed container in which the product is kept in for various reasons. Reasons may include, protection, transportation, branding, ease of usage and so on. In this case, the redesigning of the ketchup bottle to produce and packaging material was to promote the usage. The new packaging bottle helped promote usage of ketchup with great ease, revolutionizing the industry.
Starbucks is known for providing a consistent, great experience every time a customer patronizes a store. Starbucks' service has kept them very successful, despite the constant expansion of the company and the entry of several competitors. This is Starbucks':
Answer:
Sustainable competitive advantage
Explanation:
Sustainable competive advantages are the qualities, edge or assets a company has which cannot be matched and one which the company an edge over it's competitor in the long run.
When a customer patronizes a store due to the constant customer experience he or she receives, irrespective of the expansion of the business, the situation is called sustainable competitive advantage.
Sustainable competitive advantages are also ideas which a company has and one which clearly set out a company or firm over it rivals in the long run. For a business to make profit continuously, it must have special skills which makes it a force when it comes to brand recognition.
What Starbucks is known for is called Sustainable competitive advantage.
Sustainable competitive advantage refers to those qualities and assets a company possess and cannot be matched by its competitors in the long run.
For instance, when a customer patronizes a store because of good customer experience he/she receives there, the situation is called sustainable competitive advantage.
Also, the Sustainable competitive advantage that a firm has over its competitors in the long-run continues to place the firm over it rivals
In conclusion, what Starbucks is known for is called Sustainable competitive advantage.
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At Spyglass Inc., a private eye firm, new hires are chosen with utmost care. The reputation of the company is to provide clients with one hundred percent correct information on any matter that they want investigated. Which of the following methods should it use to hire new employees?A) multiple hurdles approachB) compensatory approachC) contingent approachD) normative approach
Answer:
A. Multiple hurdles approach
Explanation:
Multiple hurdles approach is a selection strategy in which applicants are expected to pass each step in the selection process and failure at any step leads to disqualification. The multiple hurdle approach is an efficient method in candidates selection used in eliminating candidates not fit at various stages. The downside to this technique however is that it eliminates excellent candidates who doesn't excel in just one phase of the selection process.
If P denotes the price of goods and services measured in terms of money, then:________.
a) 1/P represents the value of money measured in terms of goods and services.
b) P can be interpreted as the inflation rate.
c) The supply of money influences the value of P, but the demand for money does not.
d) All of the above are correct.
Ron just started working for a car wash company two weeks ago. Ron's team members come back from breaks late, and do not worry too much about the best quality job. How should Ron respond?
A) Follow his team members example since they have worked at the car wash longer
B) Tell the owner how poorly the other team members are performing
C) Continue to come back from breaks on-time and do the best job possible
D) Tell his team members that they are a bunch of losers
Answer:
I would say B would be the best answer.
Explanation:
You shouldn't try to push it onto yourself to fix, the owner/manager to fix the problem!
Maggie wants to name her artificial flower arrangement business using her name, "Maggie Lightner, Inc. Her friend sally thinks she should name it "Forever Flower Designs”. Think about the advantages of a sole
proprietorship. Why might Maggie want to consider Sally‘a idea?
Answer:
Commercial or Business names with alliterative titles are more appeasing to the common person. Forever Flowers has a type of dichotomy that is easily remembered.
If the group has been through a great deal of divisive and unproductive conflict to reach the first agreement, then the renegotiations do not have to specifically attend to changing and managing the conflict process.A. TrueB. False
Answer:
The correct answer is letter "B": False.
Explanation:
Renegotiations are carried out to attempt to settle an agreement between individuals or among participants of a team. It matters to identify what conflict-resolution processes were implemented during the first meeting so those approaches are avoided in the renegotiation. It is suitable to find new practices through which all the parties can deal with working towards the same objective.
A consumer is reading a magazine with an advertisement, but due to a loud sound he is distracted from reading the advertisement and is not able to grasp its key points. In the context of the communication process, this unplanned static or distortion is called ________.
Answer:
Noise
Explanation:
Noise is defined as any factor that interrupts communication process. It is anything that distracts the reader or listener from comprehending a message that is been passed across. It serves as a barrier to the communication process. In this case, the barrier to communication for the reader is a loud sound which is a factor of noise. Noise can either be a physical sound like in this case or a mental disturbance coming from the brain.
A business administrator in a school is determining how classes will be scheduled, which rooms will be allocated, and who will teach each subject in the curriculum. Which of the following management functions is illustrated in this scenario?
A) Planning
B) Organizing
C) Controlling
D) Leading
He is planning.
Organizing would be after everything is thought of and bought, and now just fixing everything the way they should be. Controlling and leading are both far after the admin would be thinking of things like this.
Which marketing strategy using the product-market grid involves targeting separate product lines for unique segments?
Final answer:
Product differentiation is the marketing strategy that targets separate product lines to different market segments, enabling companies to offer variety and creating monopolistic competition.
Explanation:
The marketing strategy that involves targeting separate product lines for unique segments is known as product differentiation. This strategy utilizes the product-market grid to identify opportunities to provide distinct products for different market segments. Product differentiation is a crucial action taken by firms to make consumers perceive their offerings as different from competitors' products.
Product differentiation can reflect various aspects, such as style, flavor, location, and characteristics. It creates a perceived value among consumers, leading to monopolistic competition. By offering a diverse array of products, companies can meet the specific needs and preferences of different customer segments, moving away from a perfectly competitive market scenario where products are undifferentiated.
Government ownership in Sweden is limited primarily to railroads, mineral resources, a public bank, and liquor and tobacco operations. The government is also heavily involved in providing services such as medical care, child care, and transportation. Sweden exemplifies:
Answer:
The options are given below
a. socialism.
b. social capitalism.
c. democratic socialism.
d. capitalism.
The correct option is C. democratic socialism.
Explanation:
Democratic socialism refers to a political idea that supports political democracy within an economy that is socially owned. In this philosophy, emphasis in placed on workers' self-management and the democratic control of economic institutions within a market socialist economy or some form of a planned socialist economy in which power is decentralized.
Democratic socialists believe that both the economy and society should be run democratically, in order to meet the needs of the general public, and not to make profits for a selected few.
In Democratic Socialism, the aim is not to create an all-powerful government bureaucracy, the belief is that, social and economic decisions should be made by those whom they most affect.
Carlos is doing a VRIO analysis for a product his company is thinking about producing. The first question he asks is, "Does this new capability allow us to minimize the threat of the main competitor gaining more market share?" He decides the answer to this question is "yes." Which aspect of the VRIO analysis does this question answer?
Answer: value
Explanation:
VRIO is an internal analysis that is used to identify and evaluate the resources in a company. VRIO
is an acronym that stands for Value, Rareness, Imitability, Organization.
The VRIO Analysis is a technique for the evaluation of a company's resources to give the company competitive advantage.
Asking a question on whether a new capability reduces the threat of the main competitor enjoying more market share is part of value under the VRIO analysis.
This question answers the aspect of the VRIO analysis related to Value.
Explanation:This question is answering the aspect of the VRIO analysis related to Value. In a VRIO analysis, the question of whether a new capability allows a company to minimize the threat of competitors gaining more market share helps determine if the capability adds value to the company. If the answer is 'yes,' it suggests that the new capability is valuable and can provide a competitive advantage. Other aspects of VRIO analysis include Rarity, Imitability, and Organization.
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The core competency of GoGo Motors is its fuel-efficient engine found in its cars. These engines are developed and built in-house. The company realizes that the growing demand for "green" vehicles has created a new market opportunity. Thus, it uses its existing technology to develop an engine that improves the fuel efficiency of recreational motorhomes. In this scenario, GoGo Motors isA. redeploying and recombining existing core competencies to compete in future markets.B. building new core competencies to protect and extend current market position.C. building new core competencies to create and compete in future markets.D. leveraging existing core competencies to target the chasm between the early adopter and early majority market segment.
Answer:
lol i knew it but then had to do something and forgot
Explanation:
Web World began using dollar-value LIFO for costing its inventory last year. The base year layer consists of $600,000. Assuming the current inventory at end of year prices equals $828,000 and the index for the current year is 1.10, what is the ending inventory using dollar-value LIFO?
Answer:
768,000
Explanation:
Year 1: 600,000
Year 2: 828,000/1.10=752,727
(600,000+ x)=752,727
x=152,727
152,727*1.10=168,000+600,000=768,000
________ advertising is used in the introductory stage of the product life cycle to tell people what a product is, what it can do, and where it can be found. Multiple Choice Institutional Reinforcement Reminder Competitive Pioneering
Answer:
Pioneering
Explanation:
Advertisement can be defined as the promotion of a product to potential customers through various mediums. Advertising helps customers to gain more information about different products that are present in the market, It also helps businesses to boost the sale of their products.
Pioneering advertising is used at the introductory stage of a product into the market. This type of advertising is used at the inception of the product into the market, It is used to create awareness of the product to potential customers telling them about the various features of the product and why they should buy it.
Brand managers know that increasing promotional budgets eventually result in diminishing returns. The first one million dollars typically results in a 26% increase in awareness, while the second million results in adding another 18% and the third million in a 5% increase. Andrews’s product Awe currently has an awareness level of 80% . While an important product for Andrews, Awe promotion budget will be reduced to one million dollars for the upcoming year. Assuming that Awe loses one-third of its awareness each year, what will Awe awareness level be next year?
Answer:
The Expected Awareness level for the next year will be 58%
Explanation:
In order to calculate the Expected Awareness level, first we have to calculate opening awareness level using the following formula:
Opening awareness level=Closing level−Decrease in awareness per year
=80%−(1/3×80%)
=80%−26.4%
=53.6%
After having calculated the Opening awareness level we can calculate the Expected Awareness level for next year with the following formula:
Expected Awareness level=Opening awareness level+Increase in level
=53.6%+5%
=58%
Benny, a supervisor, needs to assess Amanda's, a subordinate's, performance. He considers Amanda to be reliable and meets all his requirements, so he rates her as a good performer. But then Benny thinks about an exceptional employee, Christina, in his department, and decides that, compared with her, Amanda is just average. In this way, Benny's rating is a _____ error.
a. distributional.
b. contrast.
c. horns.
d. leniency.
e. halo.
Answer:
B. Contrast Error
Explanation:
Contrast error occurs during the performance evaluation of an employee, whereby the evaluation or appraisal of the employee is affected by the fact that the previous employees or co-workers were relatively good or bad. It is a rating error in evaluation of an individual, in which the level of performance of that individual or group is affected by the level of performance of another individual or group. In this case, Amanda was rated average by Benny because of how excellent Christina is. Amanda was set to get a higher performance rating Benny did not compare her performance to that of Christina.
When Tyler accessed a Website called FindArticles, he noticed a mini-billboard spread across the top of his computer screen advertising the Ford Focus. The ad invited him to click on it and learn more about the car. What type of ad did Tyler see at the top of his screen when he was using the Web site?
Answer: The options are listed below:
A) Button
B) Interstitial
C) Banner
D) Classified
E) Spam
Tyler saw a Banner ad. Option C.
Explanation: A banner ad, also known a web banner, refers to an advertisement that is displayed into a web page. The advertisement consists of an image which invites the web user to click on it.
This form of online advertising entails embedding an advertisement into a web page. The purpose of the banner ad is to attract traffic to a website by linking to the website of the advertiser.
There are two types of banner ads:
- The horizontal banner
- The vertical banner
The horizontal type of banner ad is called a leaderboard, while the vertical banner ad is called a skyscraper. The vertical banner is positioned on a web page's sidebars. Banner ads are only image-based rather than text-based, and they are a very common form of online advertising.
The mission of the Securities and Exchange Commission (SEC) is to: a. PROTECT SHAREHOLDERS' RIGHTS BY MAKING SURE THAT STOCK MARKETS ARE RUN FAIRLY. b. PROTECT SHAREHOLDERS' RIGHTS BY MAKING SURE THAT STOCK MARKETS ARE RUN FAIRLY. c. ENSURE THAT INSTITUTIONAL INVESTORS DO NOT TAKE CONTROL OF COMPANY MANAGEMENT. d. Ensure that the federal treasury receives its share of the revenues from stock trading
Answer:
b. PROTECT SHAREHOLDERS' RIGHTS BY MAKING SURE THAT STOCK MARKETS ARE RUN FAIRLY
Explanation:
The U.S (SEC) securities and exchange commission is an independent agency of the American government and is responsible for enforcing the federal security laws and rules and regulated the industry. The SEC was created by the securities exchange act of 1934, mission as to protect the investors, maintain fair and orderly, and have an efficient market. Publishes quarterly and semi quarterly reports form the companies that are crucial for investors to make a sound decision when investing in the capital markets.What is the food service term for the amount of money remaining from a sale after subtracting the sold itemâ s cost from its selling price?
1.Check
2 Food cost percentage
3 Contribution margin
4.Cost of food sold
Answer:
The answer for this question is contribution margin or option 3 from the answer options or list.Explanation:
In Business and Accounting, the contribution margin basically refers to the difference between the price of any product or service and the variable cost of production. Contribution margin for per unit of product or service also represents the additional profit of the firm or company based on its marginal variable cost or expense and the per unit product or service price. The aggregate or overall contribution margin signifies the ability of any firm or seller to cover all its fixed cost or expenses and accumulate overall or total profit in business.In this case, the the selling price of the food item or service represents its market price at which the consumers or buyers have purchased it and the sold item's cost denotes the variable cost of production.Hence, the difference the two phenomenon denotes the contribution margin in this case.Suppose Iceland goes from being an isolated country to being an exporter of coats. As a result, a. consumer surplus increases for consumers of coats in Iceland. b. producer surplus increases for producers of coats in Iceland. c. total surplus remains unchanged in the coat market in Iceland. d. it is reasonable to infer that other countries have a comparative advantage over Iceland in coat production.
Answer:
Option (b) is correct.
Explanation:
It is reasonable to infer that Iceland have a comparative advantage in producing coats, it is may be due to the lower opportunity cost of producing than the other country.
A country is exporting a commodity in which it has a comparative advantage and also, a country is exporting a commodity if the world price of the product is greater than the domestic price of the product.
Under a free trade condition, Iceland continue exporting coats until the domestic price become equal to the world price.
Hence, if there is any increase in the domestic price of the coat then this will result in a reduction in consumer surplus.
If Iceland exports coats at the world price then the producers of the coats will experience an increase in the producers surplus.
TrinkCan, a soda manufacturing company, produces around 50,000 cans of soda per day. The production system used by the company is very efficient, and it releases close to 3,000 cans per hour. Once the production system is turned on, it functions round the clock to seal and release cans until the machine is turned off. The production system of TrinkCan is an example of _____.
Answer: Continuous-flow manufacturing
Explanation:
Continuous-flow manufacturing, also known as the repetitive-flow manufacturing involves the move from one work unit at a time between every step of the process with no breaks in sequence, time, substance, or extent.
The aim of the continuous manufacturing flow is to manufacture a flow production to produce, manufacture, or process materials uninterrupted.
Answer:
A. Continuos flow production
Explanation:
Continuos-Flow production also called repetitive flow production is a production process technique in which products are moved from start to finish without stopping. In this scenario, the machine responsible for production functions round the clock to seal and release cans until the machine is turned off, hence why it is a continuous flow manufacturing system. In continous flow production process, optimization is achieved using minimum inventory.
The realities of international marketplace and the recognition of the importance reducing uncertainty have persuaded many courts: I. To accept choice of law and forum clauses in international contracts II. To require mandatory arbitration clauses in international contracts
Answer:
I. To accept choice of law and forum clauses in international contracts
Explanation:
The realities of international marketplace and the recognition of the importance reducing uncertainty have persuaded many courts to accept choice of law and forum clauses in international contracts.
You post a notice at school that you will sell your laptop computer for $600. A buyer comes by your room to look at it while you are gone and your roommate sells it for $500, thinking you would be happy with that price, which you did not authorize.
Which of the following statements is/are true?
a) You must accept the deal because your roommate had implied authority.
b) You must accept the deal because people living together have power of attorney.
c) The deal cannot be void because there was no consent.
d) You can accept the deal by express ratification only.
e) None of the above
Answer:
e) None of the above
Explanation:
Agency refers to a relationship between a principal i.e the person who allows another person i.e the agent to act on his behalf and allow him to do such acts which the principal in the ordinary course himself would.
Agency can be express or implied. In the former case, the agency agreement is executed and terms and conditions between the two parties are specified in written form.
In case of implied agency, the agency is implied from the conduct of both parties i.e their relationship.
Ratification of an agreement or a contract refers to making it valid by formal approval or confirmation of terms by both parties, in the same sense and in the same context.
In the given case, an individual posted a notice for sale of laptop for a certain price. During his absence, the same laptop was sold by his roommate for a lower consideration than specified by the individual.
Herein, the individual did not authorize the roommate to sell the laptop. Thus, the individual may approve i.e ratify the action of roommate expressly, if such a formal agreement exists or via implied ratification wherein the individual accepts the consideration of $500 without objecting to the roommate's action.
An amusement park was recently inaugurated in a city. All the customers who visited the park during the first few days were sent a feedback form via email to rate their overall satisfaction. The customers were provided four answer options to choose from in the feedback form: completely dissatisfied, dissatisfied, satisfied, or completely satisfied. This scale is an example of a(n) _____.
Please see the complete question below.
An amusement park was recently inaugurated in Tampa, Florida. All the customers who visited the park the first few days were sent a feedback form via email to rate their overall satisfaction on a scale. The form included a set of ten questions with four answer options; completely dissatisfied/dissatisfied/satisfied/completely satisfied. This scale is an example of a(n) _____ measure.
a. attribute-specific
b. disconfirmation
c. unstructured
d. direct, global
e. open-ended
Answer:
The answer is direct, global (option d)
Explanation:
Direct, global measure is one of the ways of measuring customer satisfaction/dissatisfaction or feedback on experience derived from using a product or service (like entertainment service at an amusement park).
In this kind of satisfaction/dissatisfaction measurement, a scale is provided in the feedback form to help customers rate their experience. The scale ranges from the least quality experience to the highest quality experience. E.g. completely dissatisfied, dissatisfied, satisfied, or completely satisfied.
Greyon spinning Mills Inc. owns 600 spinning machines out of these, only 500 are used in a given year. Given this information, the utilization of spinning machines at Greyon Spinning Mills Inc. is ___. A.1 B.0.83 C.1.2 D.0.75
Answer:
B.0.83
Explanation:
Data provided in the question
Total machines Available = 600
Number of machines used in a given year = 500
So by considering the above information, the utilization of spinning machines is
Utilization = Resource used ÷Resource available
= 500 ÷ 600
= 0.83
By dividing the resources used with the resources available we can get the utilization and the same is applied
Finwes is an advertising company. Because of certain untoward incidents in the company, the management decides to create a formal written document that would guide the employees in making right decisions in various professional situations. In this scenario, the management wants to create a _____.
Answer:
The correct answer is Code ot Ethics.
Explanation:
A code of ethics is a document that establishes general guidelines that must be followed when situations of any kind arise in the execution of work. These guidelines determine the behavior that an employee must have in the event of a specific case, respecting the policies, values, guidelines, etc., that govern the organization.
The senior management of BonusOne Bank formulates a new set of strategic plans for the next financial year and conveys it to the middle management. The middle management, in turn, conveys the same to their respective subordinates. In the context of communication channels, the given scenario illustrates _____A) downward communicationB) upward communicationC) horizontal communicationD) informal communication
Answer:
A. Downward Communication
Explanation:
Downward communication is a communication process whereby information is passed from the top of the organizational structure to the bottom of the organizational structure. It is a situation whereby information flows down the hierarchy chain from the top of the hierarchy to the bottom.
This is the method used in which information is passed from the bosses of the organization at the top to the lower management at the bottom of the organizational chart. In this scenario, the information concerning the strategic plans moves from the senior management to the middle management and down to their respective subordinates.